DislikedI´m in that also. + 75 pips. Check out also AUD/USD already at all time highs. The sky seems to be the limit?Ignored
Flp. 4:13
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DislikedI´m in that also. + 75 pips. Check out also AUD/USD already at all time highs. The sky seems to be the limit?Ignored
DislikedAs jdcompute just said, pairs tend to bo and go back to the consolidation zone and then back to with their original move.
Most of the days we take advantage of this with ZC, but today was a whacky day.
Most days we see how a pair BO of the box and then goes back into or on top of it, and then continue its original direction... here USDJPY might be doing just that right now...Ignored
DislikedThis pair is really interesting right now. As you said at all time high, in my H4 chart I can see PA bounce violently from that red resistance and the H1 chart shows how PA has bounced twice on that resistance level. Everything could happen as we know, but it's worth watching closely.Ignored
DislikedI've been meaning to ask someone to point me to the discussion about the "ZC" trade. I haven't a clue what that is.Ignored
DislikedI've been meaning to ask someone to point me to the discussion about the "ZC" trade. I haven't a clue what that is.Ignored
DislikedI've been meaning to ask someone to point me to the discussion about the "ZC" trade. I haven't a clue what that is.Ignored
DislikedRead post #1 thoroughly jd, if you have already, it wouldn't hurt to read it again, and the link to ZC trading method is at the bottom of this first post. It's a useful method, btw. get on it now... lolIgnored
DislikedMade newbie mistake on that thinking it HAS to come back down because its at all time high. Didn't stick to the system - Lost 30 pips
I guess markets never HAVE to do anything.Ignored
DislikedMy charts are a little bit different so I have no setup yet, but nice call. Best of success to you. If my chart gives a setup I'd watch PA closely around that red resistance above your entry...Ignored
DislikedGood point. I´m beginning to understand your way of seeing S/R lines. Better safe than sorry....Ignored
DislikedI like seeing s / r levels more as areas or zones than just plain lines, here you can see how that level around the red line repelled the price repeteadly in the past, and even the zone PA is at right now is kind of a resistance. This doesn't mean we should or shouldn't enter a trade, that's up to every traders discretion, but it advises me to watch PA closely around this levels.Ignored
DislikedProbably the hardest, I've always been told that Forex is a S&R market and drawing those lines has always been a challenge. I have a small book in pdf format that i found very helpful. Check it out here:
http://www.amazon.com/Stikky-Stock-C.../dp/1932974008
If anyone is interested i could post it to the thread or just email it if size is an issue with FF.Ignored
DislikedThat's right PA never HAS to do anything, it will do whatever its meant to do, we can't know and we shouldn't care, we should just try and go with it as it moves. (This sounds like duh! but as we can see it is not).
Anyway I wouldn't worry that much you'll be ok as long as you used MM and it will eventually come down, that's certain... when will it come down, we don't know...Ignored
DislikedI´m blessed with a hasty personality and like to jump into things. Not just in trading, but in general also. I was just thinking ways to improve the quality of my trades by more carefully evaluating trade setups so your way of analysing them is for me undoubtedly something to aim at. It´s a lot about psychology. As Lawgirl quoted some time a go, one of the most difficult things in trading is waiting the right moment. How do you guys and girls manage this?Ignored
DislikedHi jason, well that explanation is just one way we've been using to enter, it was first introduced to me by LG of course and it's always improving, so with a little practice you might as well come out with a better method and share it with us...
Regarding SL and TP, well I don't want to sound boring and repetitive but when it comes to BO trades, it's all about observing PA, at least for me. Let me explain a little further:
1. When I enter a BO trade I will watch PA closely and come to any decision based in PA's actual behavior.
2. Open of new...Ignored